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Reverse Mortgage Short Sale Help

 Reverse Mortgage short sales are a niche within the short sale realm. Most are serviced by Novad, Celink, or Freedom Financial, but there are other smaller servicers too. The unique thing about these types of transaction are that there are no typical arms length affidavits so family or friends are allowed to purchase the property as a short sale. The typical requirement valuation wise is 95% of the appraised value.

The borrower typically needs to have vacated the property or be deceased to allow a short sale review. Or a letter stating the borrower is moving to a nursing home or something along those lines could potentially suffice as well.

Many people struggle with these types of short sales due to a lack of knowledge and experience as it’s a specialty transaction.

If you need Reverse Mortgage short sale help or have questions, please fill out the form below or call 1-800-692-9960 and a specialist will be in touch with you shortly.

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